SSP Group PLC (LSE:SSPG) shares slipped by over 8% in morning trades after the Upper Crust owner said full-year earnings per share would be at the lower end of previous guidance.
Though the group indicated revenue of £3 billion and pre-tax earnings of roughly £280 million were expected for the year to 30 September 2023, it hinted per-share earnings would be closer to 7p, in a previously guided range of up to 7.5p.
“We expect to deliver these results despite the significant strengthening of sterling against most of our major currencies during the year,” a statement read.
Capital expenditure is also likely to grow on the back on inflationary pressures next year, the group added.
Despite the reiterated full-year guidance, investors seemed unimpressed, prompting SSP stock 8.1% lower to 224.7p.